Ares is two-thirds of the way to fund IV target

Ares Management is in the home stretch of raising money for its fourth midmarket buyout and growth capital fund, gathering more than $3bn so far, according to a filing with the Securities and Exchange Commission.

The SEC filing indicates Ares has gathered $3.23bn from 69 limited partners for Ares Corporate Opportunities Fund IV. That puts the firm more than two-thirds of the way toward the vehicle's $4.7bn target.